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Citigroup Returns $1.74 Billion to Lehman Brothers

Citigroup Returns $1.74 Billion to Lehman Brothers

Citigroup is returning $1.74 billion to Lehman Brothers for deposits withheld for trades.  The dispute arose as Citigroup withheld $2.1 billion for trade securities, while Lehman claims the money should go towards its creditors.

” Citigroup returns $1.74 billion to Lehman Brothers for Deposits Withheld since 2008 “

The dispute dates back to the financial crisis in 2008, the aftermath of the collapse of Lehman Brothers Holdings.

Source: Reuters

About Citigroup Inc

Citigroup, Inc. is a global diversified financial services holding company whose businesses provide consumers, corporations, governments and institutions with a broad range of financial products and services. The company operates through two segments: Citicorp, consisting of Citi’s Global Consumer Banking businesses and Institutional Clients Group; and Citi Holdings, consisting of Brokerage and Asset Management, Local Consumer Lending and Special Asset Pool.

 Visit: Citigroup

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